Welcome to my Lolli Review Australia edition. Today I’ll discuss the free Bitcoin rewards app Lolli. This browser extension allows users to be rewarded with Bitcoin bonuses for shopping with popular online retailers. In this Lolli Review Australia, I’ll cover what it is, how it works, if it’s safe, how to use it and the pros and cons of using Lolli.
Lolli is a Bitcoin (BTC) rewards site and browser extension that rewards users with BTC when they shop at Lolli’s partner merchants. It is currently supported by Google Chrome and Mozilla Firefox, with plans to add it to additional browsers such as Brave in the future.
Lolli generates commissions by referring users to their partner merchants. If you are a Lolli user and decide to shop at one of these partner merchants, Lolli will be given a commission of your purchase for referring you to that merchant. The difference between Lolli and other competitors is that they will share this commission with you in the form of a BTC payout.
While there is a comprehensive list of shops and companies that are affiliated with Lolli, the browser extension will automatically detect when you are on a supported partner website. This automated process ensures that you never miss out on your free BTC.
While there are numerous cashback apps, Lolli is the first of its kind for rewarding users with BTC. Despite receiving a poor reputation due to being volatile, BTC has retained a 230% annualised return on investment (ROI) over the last 10 years. When compared to the US Nasdaq 100 which had an annual ROI of 20% during the same time, it makes sense to diversify into BTC and cryptocurrency to some extent.
However, this is easier said than done, with cryptocurrency being a notoriously difficult asset class to begin investing with. Many apps and platforms have attempted to make mass adoption an easier process by seamlessly integrating cryptocurrency into everyday transactions. One example is Crypto.com which allows users to buy petrol and groceries with a visa card that can be topped up with BTC and Ethereum. Another is Lolli which pays people in BTC for shopping on platforms as they normally would. As such, Lolli is a great way to diversify into cryptocurrency, regardless of your level of knowledge regarding the crypto space.
If you would like to learn more about exactly what BTC is, I have written a more comprehensive guide on it here:
When you sign up, Lolli will create a digital wallet for you. On this wallet, your BTC earnings will be securely stored with the Lolli custodial service. All BTC held in this wallet is yours, meaning that you can send it freely from one wallet to another. Once your BTC balance hits 15 USD or more, you can withdraw it to a bank account.
If you live in Australia and would like to withdraw it in AUD, I recommend signing up for Swyftx which is a low-fee Australian cryptocurrency exchange. You can then transfer your BTC to your Swyftx account and withdraw it in fiat currency (AUD) to your bank account.
If you’d like to learn more about Swyftx, I have reviewed it in more detail here.
Lolli uses state of the art software and network security to ensure that your BTC balance is safe. As such, they ensure that the funds in your Lolli wallet remain protected and secure.
Regarding personal data, Lolli does not track which sites you visit. Nor do they sell any personally identifiable data. They have a transparent business model in which they partner with businesses. If a user visits that business, Lolli gets a commission of that sale and then give you a portion of that commission in the form of BTC. As such, they do not need to sell user information to third parties. This separates Lolli from a lot of other cash back apps which utilise this tactic and it in turns makes Lolli one of the safest platforms in this space.
Cryptocurrency is a growing asset class, that is slowly becoming more and more mass adopted. However, very few people in Australia have crypto exposure. This is largely due to the barrier of accessing cryptocurrency. People need to sign up to exchanges, learn how to create and operate crypto wallets, understand how market and limit orders work and a plethora of other factors. While this can be learnt for people who are eager to understand this growing space, it can be a bit overwhelming at first.
Lolli overcomes this issue by providing users with a simple and free way of accumulating BTC. By simply shopping online as you normally would, you can slowly begin accumulating BTC on the side. This provides a cost-effective and beginner-friendly way for diversifying into a growing asset class that has appreciated at a rate of 230% per annum across the last 10 years.
Lolli offers up to 30% BTC cashback for shopping with partner merchants. With over 1,000 supported stores, this can be a great way to save and invest money simply by shopping. Users can also take advantage of the affiliate program, which will give the affiliate and the referral a $5 BTC bonus once the referred user makes their first eligible purchase. This makes Lolli a pioneer for the BTC space, as users can earn BTC for free without any caveats.
As mentioned previously, purchasing BTC and other cryptocurrencies have traditionally been a relatively esoteric task. This is particularly true for people with limited to no investing experience, as exchanges can be daunting due to their numerous features. Lolli differs from the pack by creating a BTC wallet and storing BTC in this wallet until the user is ready to withdraw it.
As such, users can store their BTC in the Lolli wallet for as long as they please. If you decide later down the line to get into crypto investing and open an account on an exchange, you can move your BTC to this exchange for free. Alternatively, if you decide that crypto isn’t for you, you can withdraw it to your bank account as fiat.
The streamlined process of automatically receiving BTC for shopping at popular retailers makes Lolli one of the best apps for beginners, as it seamlessly integrates crypto investing with regular, everyday activities. As such, Lolli is a fantastic first step for people who are curious about investing in cryptocurrency. It’s also a free, risk-free way of gaining exposure to BTC.
Lolli doesn’t sell or store any of your data. Whereas other cashback rewards programs track and sell user data to third parties for profits, Lolli has a transparent business model. Simply by having the app installed, if you shop at a Lolli approved partner business, Lolli gets paid a commission of your transaction. They then split part of this commission with you in the form of BTC.
For this reason, Lolli is a safe, secure and free platform that gives you attractive rewards, making it a win-win.
While it’s hard to fault a free app, there is one main con when it comes to using Lolli – The waiting time. To remain secure, Lolli has to verify every purchase with their retail partners. While this ensures smooth and accurate payments, it can be a time-consuming process. This verification process takes anywhere from 30-90 days, meaning that you may need to wait 3 months before receiving your BTC reward. While this may seem annoying, it is essential for ensuring that your BTC balance remains safe and secured. However, for people looking to quickly cash out their rewards, this can be frustrating.
Once your balance reaches the equivalent of 15 USD or more, you can withdraw the funds as USD to a USD bank account. However, if you live in another country such as Australia, you are unable to withdraw your funds as AUD. There is a way around this, you can sign up for an Australian exchange such as Swyftx, transfer your BTC to this address and then utilise their fiat withdrawal feature to deposit the AUD into your bank account. However, these additional steps can be off-putting for non-US residents.
|Easy Way to Diversify into Crypto||Long Waiting Time|
|Attractive Cashback Rewards (30%)||Unable to Withdraw as AUD|
|Safe and Secure|
Lolli is a free, safe and secure platform that offers a beginner-friendly way of diversifying into Bitcoin. Simply by installing the free browser extension or by downloading the mobile app, users can be rewarded in BTC by shopping at thousands of popular retails. These retailers include eBay, Adidas, Nike, Cotton On and Groupon among others.
With this extension seamlessly integrating into your everyday purchases, it is perhaps the simplest way for Aussie investors to gain exposure to BTC and cryptocurrency. The lengthy waiting time for BTC verification and difficulty in withdrawing BTC as AUD may put off some users. However, these potential cons are significantly outweighed by the numerous pros that come with Lolli. It is free, beginner-friendly, secure and offers high payouts in the most appreciating asset in recent history. For this reason, I recommend Lolli to anyone seeking to gain exposure to BTC, regardless of their level of experience in the crypto space.
By using this link, you’ll receive a $5 BTC bonus on your first eligible purchase. This will give you a small boost on your BTC journey and help me fund my website.
The following reviews cover my favourite crypto exchanges and interest earn platforms